REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand - Politics

REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand (1130 Views)

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REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by adgorwell(op): 3:30pm On Jan 25, 2023

The capacity of the Nigeria Security Printing and Minting Plc (NSPMC) to meet up with the replacement of the amounts of Naira notes in circulation, is way below the mark, investigations have revealed.
https://www.thequesttimes.com/cbn-mint-co-has-no-capacity-to-print-enough-currency-notes-needed-in-naira-redesign-sources/

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Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Seun(mod): 3:36pm On Jan 25, 2023

We knew. The cashless nonsense they came up with was their way of handling the issue.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Dabronze(m): 3:48pm On Jan 25, 2023

Seun:
We knew. The cashless nonsense they came up with was their way of handling the issue.

In that case that mean there will be an extension beyond January 31 deadline.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by nymphomaniac(m): 4:23pm On Jan 25, 2023

I knew the January 31 deadline was a hoax. The whole process was rushed if we are all being honest.

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Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by CodeTemplar: 4:26am On Jan 26, 2023

Jokers. They are playing with inflation and collapse of banks.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by AdaojoTheUrchin: 5:43am On Jan 26, 2023

Thiefnubuu urchins should stop fighting CBN with dirty media propaganda. Thiefnubuu will not be allowed to buy votes and rig this election. E nor go happen. grin

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by backnbeta(f): 6:17am On Jan 26, 2023*

It's funny how some people think any policy "they assume" will affect Tinubu should be lauded, even if it affects everyone in the process! Bubu probably wants to punish Tinubu as insinuated...but in the process, he's throwing the baby with the bath water! The problem here is that this policy will not really affect Tinubu or any other polithiefcian because they have access to these banks more than you and I; they have access to the new naira notes, they have foreign currencies they can change to new naira notes! In all of this, it is the people that will suffer untold hardships trying to meet the deadline, forced to withdraw below what they need. The bank networks are wack, we have to use POS most times!

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Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by seunmsg(m): 6:29am On Jan 26, 2023

We play too much politics with serious issues in Nigeria and it’s unfortunate. We have barely four days to the expiration of the deadline for converting to the new notes and as at today, most Nigerians still can’t get the new notes.

So, should we allow Nigerians to keep suffering and even lose their money simply because some people want to scheme out a particular candidate?

I’m glad Tinubu publicly called the saboteurs out yesterday. Nigerians should take note of those behind their sufferings. They are the real evil people who are desperate to win election at all cost irrespective of the damage they are doing to the citizens and the economy.

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Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Gbedala: 6:31am On Jan 26, 2023

Where do we go from here

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by maasoap(m): 6:37am On Jan 26, 2023*

AdaojoTheUrchin:
Thiefnubuu urchins should stop fighting CBN with dirty media propaganda. Thiefnubuu will not be allowed to buy votes and rig this election. E nor go happen.

APC and PDP already have loyal and standby supporters who will vote for them, money or no money, they are called party card-carrying members. You should be worry about whatever candidate you support.

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Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Flier: 6:39am On Jan 26, 2023

It's northern agender to retain power.Cbn will see mother of all protest on February 1 because you can't force people to stop spending old note without replacing it for them

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by ican2020: 7:10am On Jan 26, 2023

That’s where cashless transactions comes in

Though the biggest threat to cashless payments is charges for every transaction no matter how small

Yesterday I did a lot of purchases below twenty k on each transaction but my bank GTB keeps on charging both for transfers and vat all at the same time with 2 SMS each notifying you of the charges

That’s the BIGGEST setback of cashless transactions

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Racoon(m): 7:14am On Jan 26, 2023

Nice one! All the bank managers must dig out all the new currency they have shared to these corrupt politicians

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by chiefkpokp(m): 7:54am On Jan 26, 2023

seunmsg:
We play too much politics with serious issues in Nigeria and it’s unfortunate. We have barely four days to the expiration of the deadline for converting to the new notes and as at today, most Nigerians still can’t get the new notes.

So, should we allow Nigerians to keep suffering and even lose their money simply because some people want to scheme out a particular candidate?
I’m glad Tinubu publicly called the saboteurs out yesterday. Nigerians should take note of those behind their sufferings. They are the real evil people who are desperate to win election at all cost irrespective of the damage they are doing to the citizens and the economy.

Oga even ur Tinubu is among the saboteurs, so all of u must feel it.... We d masses will bear it, as long as its will reduced vote buying. I am fine with it

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Validated: 7:58am On Jan 26, 2023

Dabronze:
In that case that mean there will be an extension beyond January 31 deadline.

No extension, after March we may review the effectiveness of the system. No need printing cash for politicans to buy votes.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by RHMSTECH: 8:00am On Jan 26, 2023

CodeTemplar:
Jokers. They are playing with inflation and collapse of banks.

actually, in real sense, it’s supposed to cause deflation.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Validated: 8:02am On Jan 26, 2023

seunmsg:
We play too much politics with serious issues in Nigeria and it’s unfortunate. We have barely four days to the expiration of the deadline for converting to the new notes and as at today, most Nigerians still can’t get the new notes.

So, should we allow Nigerians to keep suffering and even lose their money simply because some people want to scheme out a particular candidate?

I’m glad Tinubu publicly called the saboteurs out yesterday. Nigerians should take note of those behind their sufferings. They are the real evil people who are desperate to win election at all cost irrespective of the damage they are doing to the citizens and the economy.

Stop crying, go and deposit old notes in the banks. If you do not have ATM card, go and get one. "NO GOING BACK ON DEADLINE. NIGERIANS WERE GIVEN SINCE OCTOBER TO CHANGE THEIR MONEY" - PMB grin

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Spandau: 2:21pm On Jan 26, 2023

seunmsg:
We play too much politics with serious issues in Nigeria and it’s unfortunate. We have barely four days to the expiration of the deadline for converting to the new notes and as at today, most Nigerians still can’t get the new notes.

So, should we allow Nigerians to keep suffering and even lose their money simply because some people want to scheme out a particular candidate?

I’m glad Tinubu publicly called the saboteurs out yesterday. Nigerians should take note of those behind their sufferings. They are the real evil people who are desperate to win election at all cost irrespective of the damage they are doing to the citizens and the economy.

Shebi they are your friends.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Hopium: 2:28pm On Jan 26, 2023

Hopium:
lmaoo, we will wait and see.

Let me tell you what will happen.

1. The fuel scarcity will resolve by month end

2. The CBN will postpone their deadline

You can quote me on Feb 1st.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by Nobody: 3:01pm On Jan 26, 2023

adgorwell:
The capacity of the Nigeria Security Printing and Minting Plc (NSPMC) to meet up with the replacement of the amounts of Naira notes in circulation, is way below the mark, investigations have revealed.
https://www.thequesttimes.com/cbn-mint-co-has-no-capacity-to-print-enough-currency-notes-needed-in-naira-redesign-sources/

Stop peddling lies.

CBN made it known that they are pursuing cashless economy with more vigor so they will print less cash.

They are focusing more on electronic transactions.

Re: REVEALED: CBN Ha No Capacity To Print Enough New Note To Meet Demand by citygarden(m): 3:11pm On Jan 26, 2023

The expiration date for old currency is 31st today is 26th still ATM machines are still dispensing old Note. The new Naira note isn't yet to circulate. Who will settle this matter now. This won't affect tinubu on mobilization but will affect him because of the bad policies of the government. This is what he is trying to avoid. That's the reason for the call-out of buhari by himself yesterday

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